Recently broke out of falling wedge and is likely to bounce off of the top of the wedge and use it as support.
Double bottom recently played out inside the wedge.
JUMIA has been in a downtrend for months.
Price target around $15+.
This is no guarantee and is just my analysis.
Not financial advice.
Trade at your own risk.
Two possible scenarios:
1- Correction finished as double zigzag and ready to fly
2- Correction unfolding as triple zigzag and we should see a drop to $4/$8 area before flying up
I will follow the first scenario as long as the recent low of 9.94 is holding.
Target: $85.58
GOODLUCK!
Looking for breakout above resistance of $12.57. Once broken, can see $14.97 (second resistance).
First support level $11.37 (look for a bounce off of this level). If it can't hold, we may see as low as $9.95 again.
Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates.
They kept diluting their shares in the last year and investors were disappointed by the results.
i see two scenarios:
it bounces from this support and the price target is the 21usd resistance.
it drops to 8usd, according to the head and shoulders...
Jumia Technologies operates an e-commerce platform in Africa, Portugal, Germany and the United Arab Emirates. The platform consists of a marketplace that connects sellers with consumers; logistics service that enables the shipping and delivery of parcels.
If you are trading stocks maybe this one can be profitable on long run. Jumia invested a lot of money in marketing in previous two Q, but their marketing failed expectations and boosted sales only around 8.5%.
This was main reason for sell off, I think now it is time to start buying the fear, and start waiting for our profits to come in following year. It is long...
Going to play a call spread to the upside, $25/$35 1/21/22 for about $0.65...let it sit for a week after earnings. Close out if we fail to the downside.
This is the kind of stock that moves in a (cup) formation.
As long as nothing bad happens to the company and the market doesnt crash, I think we can see new high on JMIA.
Stop loss if the stock closes below $15.40 on any given day.
Today's close was just over $50. This is a huge win for the bulls from a technical standpoint. It corrected, and now closed above the all time high of the IPO at $49. For those traders who know what Bollinger bands are, you can see what I see. Also, a potential handle is forming for a giant cup. If the handle forms, I will be trading it accordingly. Thursday,...
This baby could run soon too. MACD is curling and weekly chart looks nice.. I'm giving it a couple of weeks until we see much more upside. I'm aiming for 30 before the EOY. Perhaps little pop after earnings 11/16?
